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ARTICLE · 01 SEPTEMBER 2020

Jersey Foundations – New Regulations Required

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On 14 July 2020, Jersey adopted the Financial Services (Disclosure and Provision of Information) (Jersey) Law 202- (Disclosure Law) which is currently awaiting approval from the HM Privy Council.

JerseyFinance and Banking
David Dorgan
David Dorgan
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On 14 July 2020, Jersey adopted the Financial Services (Disclosure and Provision of Information) (Jersey) Law 202- (Disclosure Law) which is currently awaiting approval from the HM Privy Council. It is anticipated that the Disclosure Law will come into force on or around 1 December 2020.

As noted in our previous article, Jersey already has a central register of beneficial owners and controllers of legal entities (i.e. companies) and, therefore, the impact of the Disclosure Law will be largely minimal on Jersey's industry. However, there will be an impact upon foundations incorporated under the Foundations (Jersey) Law 2009 (as amended) (Foundations Law).

The Impact on Jersey Foundations – Abridged Regulations

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